NorthRock Partners LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

NorthRock Partners LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 0.3% in the first quarter, HoldingsChannel reports. The firm owned 8,216 shares of the Internet television network’s stock after purchasing an additional 23 shares during the quarter. NorthRock Partners LLC’s holdings in Netflix were worth $7,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter valued at $27,000. Transce3nd LLC purchased a new position in Netflix during the fourth quarter valued at $32,000. Copia Wealth Management purchased a new position in Netflix during the fourth quarter valued at $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix during the first quarter valued at $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Wells Fargo & Company boosted their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Seaport Res Ptn cut Netflix from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 6th. Finally, Phillip Securities cut Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,297.66.

Insider Buying and Selling at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,408 shares of company stock valued at $186,614,540. Corporate insiders own 1.37% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $1,168.74 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $496.63 billion, a P/E ratio of 49.80, a P/E/G ratio of 1.98 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The business’s 50-day moving average is $1,235.63 and its 200 day moving average is $1,077.14.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.